The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 5th September 2018

Singapore Real Estate

BCA working with developers on ‘super low energy’ buildings with launch of new green rating
The Building and Construction Authority (BCA) is working with industry professionals, including property developers, to build super low energy commercial buildings that will qualify for a new green rating, said its chief executive Hugh Lim.

Measured bid counts in latest Government Land Sales tenders for private housing
Bidding turnouts at two of three state tenders that closed on Tuesday were noticeably subdued, reflecting developers’ sentiment following the latest property cooling measures. Just five bids competed for the plot on Dairy Farm Road. Over at Jalan Jurong Kechil, three offers were submitted, far fewer than the record 24 bids submitted last year for a nearby Toh Tuck Road plot that has since been developed into Daintree Residence.

Singapore leads Asian outbound investments in 1H 2018: CBRE
Singapore investors led the region in outbound investment activity for the first half of 2018, with their capital output of US$8.9 billion accounting for 36 per cent of Asia’s total, according to data compiled by CBRE. Europe was a favoured destination for Singapore investors, who poured US$3.4 billion into the region. They also funnelled a total of US$2.27 billion into the US logistics sector, CBRE said in a press statement on Tuesday.

JLL, Lendlease pick 5 startups for proptech accelerator programme
Real estate firms JLL and Lendlease have announced the five startups selected for their proptech accelerator programme, Propell Asia. The startups are early-stage companies chosen based on the commercial viability and scalability of their idea, as well as each team’s strength and technical competency.

‘Factually and legally wrong’ that HDB flat buyers are not owners
It is “factually and legally wrong” to claim that HDB flat buyers do not own their flats and are merely renting them, said National Development Minister Lawrence Wong on Tuesday. This is because all buyers of leasehold properties – whether public or private – enjoy ownership rights over their properties during the period of the lease.

Tengah HDB district to feature fruit trees, farmers’ markets
Avid gardeners and agrarian lovers can head west in the near future to the first housing district to be built in the “forest town” of Tengah. In just two months, 1,500 flats will be launched for the aptly-named Plantation estate, which will be built amid community gardens, fruit trees and “farms”.

9 bids for Canberra Link EC site; 5 for Dairy Farm Road plot and 3 offers for Jalan Jurong Kechil at state land tenders
United Engineers’ UED Residential has submitted the top bid of S$368.8 million, or S$830 psf per gross floor area (GFA) for a Government Land Sales (GLS) site at Dairy Farm Road. There were five offers in all for the 211,486 sq ft site which is for residential development with commercial uses on the first storey. The 99-year site has a maximum permissible GFA of 444,129 sq ft, and was launched for sale on May 31.

All 24 HDB towns to get unique design guides, first one released for Woodlands
As part of a large-scale effort to shape and strengthen the identity of various public housing estates, the Housing and Development Board (HDB) will be launching customised design guides for all 24 towns in Singapore, beginning with Woodlands. Each design guide will cover areas such as the overall theme that an HDB town should adopt, down to detailed designs of individual projects within the estate.


Companies’ Brief

Vicom to buy Bukit Batok warehouse from Mapletree Logistics Trust for S$22.4m
Vehicle inspection firm Vicom has agreed to buy a six-storey warehouse from Mapletree Logistics Trust (MLT) for S$22.4 million. The property, located at 531 Bukit Batok Street 23, will in time replace Setsco’s present premises at Teban Gardens Crescent, which has been zoned for redevelopment under the government’s plans for the Jurong Lake District, Vicom said on Tuesday.

Oxley Holdings
Oxley said that the revision of development charge rates will have minimal impact on its proposed developments in Singapore as they have been granted provisional permission before Sept 1.

The Ascott Limited
CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), was named “Asia’s Leading Serviced Apartment Brand” as it emerged the biggest winner for the serviced residence categories with a total of 11 prestigious accolades at this year’s World Travel Awards Asia & Australasia ceremony.

Boustead Projects
Boustead Projects has been awarded a contract under its wholly owned subsidiary Boustead Projects E&C Pte Ltd to build an integrated R&D (research and development) and office building in one-north. The project is expected to be completed by the first quarter of 2020.

OUE Lippo Healthcare served court documents by former exec director
OUE Lippo Healthcare has been served with court documents by its former executive director, Lim Beng Choo, following Ms Lim’s commencement of court proceedings against the company on Aug 15, 2018, over unpaid dues.



HDB flat sizes unchanged since 1997
We refer to the letter from Mr Andrew Seow Chwee Guan, (Size of HDB flats not addressed, Aug 22), in which he states that HDB flats “appear to be getting more expensive and small HDB flats are becoming the new normal”. Over the years, HDB has sought to improve flat designs to meet Singaporeans’ desire for quality housing, and to allow better optimisation of space.

Chinese investments in S-E Asia – should there be a relook?
When Malaysia’s Prime Minister Mahathir Mohamad visited China in August, it was assumed that he would draw a line in the sand. The recently re-elected leader – whose election campaign was buttressed by calls to unload his country’s massive US$250 billion debt – was expected to adopt a less cooperative position with Beijing. This was after Dr Mahathir made a seemingly snap decision to scrap around US$22 billion worth of Chinese-backed infrastructure projects, including putting an indefinite halt to the RM81 billion (S$27 billion) East Coast Rail Link project in Malaysia’s north-east. 

NUS pumps S$25m into co-creating 250 startups
The National University of Singapore (NUS) will be setting aside S$25 million to co-create up to 250 companies over the next five years through a new initiative announced by Finance Minister Heng Swee Keat on Tuesday. The NUS Graduate Research Innovation Programme (Grip) will tap on the university’s graduate students, post-doctoral fellows and research staff to establish and run high-potential startups based on cutting-edge technologies that will give them a sustained advantage over incumbents or create new markets.

$3m in ‘smart’ move to boost Marina Bay Cruise Centre
With passenger numbers at Marina Bay Cruise Centre (MBCC) set to cross the one-million mark this financial year, the terminal is taking steps to prevent possible congestion by tapping smart technology. By September next year, a total of 460 cameras, each capable of clicking 750 images a second, will be installed at MBCC, with sensors fixed at key locations such as the check-in and baggage handling areas.

Trump’s absence from Asian summits sends mixed signals to America’s allies
It was just a little under three months ago when US President Donald Trump accepted an invitation by President Halimah Yacob to make his inaugural state visit to Singapore in November. That would have been the first such visit by an American president in over a decade, and would have also been his first official meeting with Madam Halimah. The state visit was also timed to coincide with Singapore’s hosting of two high-level events – the annual US-Asean Summit and the East Asia Summit – which Mr Trump would presumably have attended.

The digital future of procurement
Technology and digitalisation are dramatically changing customer experiences and expectations. As organisations seek to future-proof themselves, they also seek to be more responsive to their customers. The procurement function, whether in the private or public sector, primarily aims to seek cost-savings while procuring the goods and services needed for operations.

Deng Xiaoping era ends with Xi Jinping firmly in control
The era of Deng Xiaoping, who brought China the reform and opening-up policy in 1978, is over. This is now the era of Xi Jinping. This year, 2018, marks the 40th anniversary of the reform movement, led by the redoubtable Deng Xiaoping, who ended the madness that had gripped China during the Cultural Revolution.

Orchard Road Christmas light-up 2018 to feature Disney, Pixar characters
Disney and Pixar characters such as Mickey Mouse, Cinderella, Elsa and Woody will be lining Singapore’s shopping belt this Christmas season, as the Orchard Road Business Association (ORBA) partners the Walt Disney Company for the annual light-up event. It will be Disney’s largest Christmas street light-up in Southeast Asia, said ORBA in a media release on Tuesday (Sep 4).

Top solar producers in China ramp up capacity amid slump
The top solar manufacturers in China are boosting production capacity, betting higher output will help them seize a bigger chunk of the global market that is set for its first-ever annual contraction.


Global Economy & Global Real Estate

Argentina in talks with IMF to speed up crisis loan

Trudeau insists on dispute resolution mechanism for Nafta deal

US factory activity hits 14-year high; supply constraints rising

Global debt soars, along with fears of crisis ahead

Atlanta Fed lifts US Q3 GDP view to 4.7%

ECB endgame has governments thinking about rate hike damage

Australia holds key rate as sliding currency stimulates growth

Mahathir says foreigners can buy Forest City units, but will not get residential visas

Foreigners welcome in Forest City project: Johor chief minister

Mahathir pledges to revive ‘Malaysia Inc’ approach to business

China’s Fosun files for Club Med IPO in Hong Kong, seeks up to US$700m: sources

Hong Kong’s runaway property market may be heading for a fall

Facebook Is Bingeing on Bay Area Real Estate

OMERS Offers $2.4 Billion for Investa Office, Topping Blackstone

India’s Silicon Valley Tops Office-Rental Gains in Asia

There’s Not-So-Good News Buried in China Developers’ Fabulous Earnings


Additional Articles of Interests – Local & Overseas Real Estate

Local & Overseas Real Estate – Full Article

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